RESTRUCTURING OF EUROPEAN ENERGY MARKETS
DOI:
https://doi.org/10.32782/2786-8273/2024-4-9Keywords:
energy reform, decentralized generation, energy transformation, systemic innovation, energy efficiency, structural adaptation, regulatory changes, integration of renewable sources, competitive dynamics, stability of Europe's energy complexAbstract
Introduction: This research delves into the ongoing restructuring of European energy markets, emphasizing the multifaceted impacts of geopolitical challenges, particularly focusing on the case study of Ukraine. The energy landscape in Europe has undergone substantial changes, necessitating an exploration of the associated complexities and implications. Purpose: The primary objective of this study is to analyze the restructuring process of European energy markets, considering the geopolitical challenges faced by the region. Specifically, the research aims to unravel the dynamics influencing market reorganization, the introduction of competition, and the regulatory framework. The case of Ukraine serves as a lens through which the broader implications of such restructuring can be understood. Methods: The research employs a mixed-methods approach, combining qualitative and quantitative analyses. Qualitative methods include a comprehensive literature review, case studies, and expert interviews, providing a nuanced understanding of the geopolitical challenges and their impacts on energy markets. Quantitative methods involve statistical analysis of market data, assessing trends, and identifying correlations. Results: The analysis reveals a three-fold impact of geopolitical challenges on the restructuring of European energy markets. Firstly, the division of vertically integrated companies into distinct entities responsible for production, transmission, and distribution has been a pivotal outcome. Secondly, the introduction of competition in the electricity market has led to reduced energy prices. Lastly, transparent regulations have enhanced trust in European energy markets, fostering increased investment. Conclusion: In conclusion, the restructuring of European energy markets, influenced by geopolitical challenges, has yielded positive outcomes, including lowered energy prices and improved energy supply quality. The case study of Ukraine exemplifies the broader implications, highlighting the need for continued integration of European energy markets. The findings underscore the importance of transparent regulations and competition in sustaining a resilient energy sector.
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